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Entry Submitted by David Harkness at 5:19 AM EST on December 12, 2021
“Dinar/Dong Value?” by Chow – 12.11.21
Dear Fellow Chow,
I can fully understand your confusion with the reporting of the pricing .
So I would like to explain to you and many others the actual facts .
Firstly I draw your attention to the following link.
http://www.floatrates.com/currency-usd.html
I draw you attention to the Kuwait Dinar in particular that has been revalued by the UN and relative Central Banks .
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It states I USD equates to Kuwait Dinar 0.303c or I Kuwait Diner is 3.298
So if you divide 1 USD into 3.298 = 0.303 USD
So when they quote Dong at street rate 2.30 no $sign its 0.4694c USD .
What is confusing is the $ sign .
When they say Iraq Dinar is 4.18 this 0.263 USD .
These are public rates expected to be declared 13 December 2021 pm time USA .
I have been informed public rate for 1 Dong is close to 0.43c USD and Dinar 0.20c USD before commissions of about 6% to 7% charged by FX Dealers and banks involved ..
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As for the contract rates for Dong they are 0.47c USD for 1 Dong and 20% paid in cash and balance 80% to humanitarian purposes approved that is tax free.
Public capital gains are taxable in the seller hands .
Kind regards,
David Harkness
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